In an exploration well on the Shafag-Asiman block in the Azerbaijani sector of the Caspian Sea, the first gas condensate deposits were found at a depth of 7189 meters. This marks the successful completion of exploration and drilling of the field. In order to determine the exact volume of hydrocarbon reserves, the project participants will prepare a technical plan for drilling an additional lateral well.

The exploration work on the Shafag-Asiman block is a joint project between SOCAR and bp. Under the Production Sharing Agreement, bp is the operator of the exploration wells. On January 11, 2020, SOCAR subsidiary Caspian Drilling Company’s began exploratory drilling on the 623-meter-deep seabed by the Heydar Aliyev half-submersible drilling rig.
President of the Republic of Azerbaijan Ilham Aliyev said, “The history of cooperation between bp and SOCAR covers a period of about 30 years. During this time, many projects of global significance have been carried out. These include such joint projects as the development of the Azeri-Chirag-Gunashli (ACG) block, the Baku-Tbilisi-Ceyhan (BTC) pipeline, the Shah Denis field, the Southern Gas Corridor (SGC) and its elements – the SCP, TANAP and TAP pipelines. Currently, cooperation between SOCAR and bp has strategic significance. bp is the largest foreign investor in Azerbaijan’s oil and gas industry.

Today we are working on several new projects together with our traditional partner bp. One of these projects is the development of the Shafag-Asiman field, where the first well has already been completed with good results. The gas and condensate reserves found in a new deepwater field in the Azerbaijani sector of the Caspian Sea will contribute to the growth of our proven hydrocarbon reserves and thus to the energy security of our country and many other countries. Our proven natural gas reserves contribute to the Southern Gas Corridor, and the final link – the TAP pipeline – was completed last year. I congratulate the Azerbaijani people, our oil workers, bp and SOCAR for this success.”

The Shafag-Asiman block is located 125 kilometers southeast of Baku. It covers an area of 1100 square kilometers. It is located in a water depth of 650-800 meters. The Shafag-Asiman structure was discovered in 1961 during a seismic exploration. On October 7, 2010, SOCAR and BP signed a Production Sharing Agreement (PSA) for joint exploration and development of the Shafag-Asiman offshore block for a period of 30 years. SOCAR and bp have equal stakes in the project. In 2012, a 3D seismic exploration was carried out in Shafag-Asiman. The interpretation of the seismic data was completed in 2015. Subsequently, the partners agreed on the location for the first exploration well.